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VII D. Promote Institutional Investors: PROMOTING STOCK MARKET DEVELOPMENT IN AFRICA
The involvement of institutional investors in African exchanges must be pursued vigorously. Institutional investors often are at the forefront in promoting efficient market practices and financial innovation.
VI. D. Shareholder Protection: WHAT DETERMINES STOCK MARKET DEVELOPMENT IN AFRICA?
Another key determinant of stock market development is the level of shareholder protection in publicly traded companies, as stipulated in securities or company laws (Shleifer and Vishny, 1997).
VI. C. Institutional Quality: WHAT DETERMINES STOCK MARKET DEVELOPMENT IN AFRICA?
Institutional quality is important for stock market development because efficient and accountable institutions tend broaden appeal and confidence in equity investment.
VI. B. Banking Sector Development: WHAT DETERMINES STOCK MARKET DEVELOPMENT IN AFRICA?
The development of the banking sector is important for stock market development in Africa.

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